GfK-Corvinus index little changed in Q3

Tuesday, October 6, 2009, 07:52

GfK Hungária and Corvinus University's consumer confidence index fell slightly to 146.4 points in the third quarter from 148.5 points in Q2, but was still well over a low of 114.5 points reached at the end of Q1.

The consumer expectations sub-index rose to 177.1 points in Q3 from 180.4 points in Q2.

The purchasing propensity index fell 8.3 points to 108.5.

The indices measuring unemployment fears as well as propensity to save were little changed. Still, almost two-thirds of households expected the unemployment rate to rise.

The proportion of households who said inflation would pick up in the coming 1-2 years dropped to about three-fourths in Q3 from 89% in Q2.

Only one-quarter of households said wages would rise over the rate of inflation, while 58% said they would rise at a slower rate than inflation.

Almost one-third of households said they would never take out a loan, down from 58% in the previous quarter. Another third of households said the time was not right to take out a loan.

Almost half of households said the time was not right to spend earlier savings. About 30% said they had no savings. (MTI-ECONEWS)

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